Nearly a month after Donald Trump’s reelection, bitcoin (BTC-USD) has finally crossed the $100,000 mark and is now trading above $103,000 Thursday morning. This all comes after Federal Reserve Chair Jerome Powell’s remarks at a summit and President-elect Trump’s choice to nominate Paul Atkins as the chair of the Securities and Exchange Commission (SEC).
CoinDesk Indices Managing Director Andy Baehr joins Madison Mills and Josh Schafer on Catalysts to discuss the positive outlook these events indicate about cryptocurrency regulation and what it means for other crypto assets.
“You have two outfielders — the CFTC [Commodity Futures Trading Commission] and the SEC [Securities and Exchange Commission] — there’s a ball in the air and they’re just deciding who’s going to catch it… And that hasn’t worked right,” Baehr explains.
“So there have been some news reports that cryptocurrency regulation might be housed inside the CFTC and the SEC would have less to say about it. However that works out… you need dedicated, reliable cryptocurrency regulation. So that new projects and existing projects know what they can do and what they can’t do.”
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Luke Carberry Mogan.
